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Cramer on BloggingStocks: The end of Bush is the source of this rally

Posted Dec 9th 2008 9:05AM by Jim CramerJim Cramer RSS Feed
Filed under: Market Matters, 3M Corporation (MMM), Citigroup Inc. (C), FedEx Corp (FDX), duPont(E.I.)deNemours (DD), Dow Chemical (DOW), Texas Instruments (TXN), Deere and Co (DE), Politics, Cramer on BloggingStocks


TheStreet.com's Jim Cramer says each day we come closer to getting rid of President Bush is a day where the market is better.

This one's not going down that easy. It hasn't mattered all that much how companies have been doing, so don't think that Texas Instruments (NYSE: TXN) (Cramer's Take) and FedEx (NYSE: FDX) (Cramer's Take) can create any more of a rout on the downside than Du Pont (NYSE: DD) (Cramer's Take), Dow Chemical (NYSE: DOW) (Cramer's Take) or 3M (NYSE: MMM) (Cramer's Take).

The whole source of this rally is President Bush, meaning that each day we come closer to getting rid of him is a day where the market is better. If you haven't figured this out you would be shorting the heck out of this market. Consider that in the last few days we had downgrades, shortfalls, job cuts and negative news on several major Dow Jones Industrial Average stocks and that hasn't stopped the Dow.


Now, in the end I am with Doug Kass, who caught a great trading move and exited into the bell. I get that. We are more than plus-5 on the oscillator where I have always forbidden myself from buying and insist on selling. The market was giddy Monday, Deere (NYSE: DE) (Cramer's Take) up 20% on no news, and my non-Obama infrastructure play, Foster Wheeler (NASDAQ: FWLT) (Cramer's Take), up more than just about any other stock in the Nasdaq 100.

I am just saying the uniformity with which everyone greeted "the end of the move" after the FedEx news (shocker, really?) and Texas Instruments (have they ever delivered?) seems a little fatuous given that we have been going up for days for no reason other than Citigroup's (NYSE: C) (Cramer's Take) not going under and Obama's not Bush.

Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer was long Deere and Foster Wheeler.

Tags: bush, c, dd, de, dow, fdx, featured, fwlt, jim cramer, JimCramer, mmm, obama, txn

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